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What is the “Google Tax”?

googleLast year’s Autumn Statement introduced a number of favourable reforms and reliefs seemingly aimed at alleviating the financial pressures placed on the general public. However, this was not extended to profit shifting corporations who do business here in the UK with the Chancellor introducing the proposition of imposing significant levies on profits which are generated here, but are then transferred to lower-taxed jurisdictions. You may have heard this tax being referred to as the “Google Tax”, which is particularly unfair as this tax is not focused solely on Google or the technology industry, but when you consider that Google collects the majority of its UK generated profits in Ireland via a Dublin-registered holding company based in Bermuda, and has featured prominently in the Press because of this you can see why this has occurred.

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